This book is a ready reckoner for the assessee and tax practitioners, to understand practicalities and nuances of the following, in an effective, qualitative and timely manner:
- Faceless Assessments under the newly inserted Section 144B of the Income Tax Act w.e.f. 01.04.2021
- Faceless Appeal Scheme, 2020 legislated w.e.f. 12.02.2021
- Faceless Penalty Scheme, 2021 incorporated w.e.f. 12.02.2021
- Legislative provisions concerning Faceless ITAT
The Present Publication authored by Mayank Mohanka, is the 4th Edition & amended by the following:
- The Finance Act, 2021
- The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020
- All Important & Relevant CBDT’s Legislative Schemes, Circulars, Notifications & Press Releases on the Faceless Taxation Regime are updated till 31.03.2021
This book has the following noteworthy features:
- [Illustrative Tables, Infographics, Visuals & Real-time Scrutiny Windows] to explain the newly inserted Section 144B containing provisions for ‘Faceless Assessments’ and the Legislative Schemes of ‘Faceless Appeal Scheme, 2020’ and ‘Faceless Penalty Scheme, 2021’.
- [Real-time Practical Case Studies] on ‘Faceless Assessments’ on issues of:
- Addition on account of HSBC Foreign Bank Account
- Reassessment on account of Information from another IT Authority
- Admission of Additional Evidence under Rule 46A
- Cash Deposits out of Earlier Cash Withdrawals
- Addition on account of considering Rental Business Income as Income from House Property
- Appeal against Revisionary Order u/s 263
- TDS on Transmission & Wheeling Charges
- Appeal against Rectification Order u/s 154
- Cash Deposits during Demonetization
- Valuation of Shares u/s 56(2)(x)
- Share Capital/Share Premium
- LTCG on Penny Stocks
- Disallowance u/s 14A/Rule 8D
- Disallowance of Pre-commencement Business Expenditure
- Taxability of Compensation received under RFCTLAAR Act, 2013
- Revenue Recognition & Expenditure Booking in Real Estate Business
- Bogus Purchases, Seized Diary, AIR/STR information
- [Specimens of Suggestive Qualitative & Meritorious] ‘e-Responses/Submissions’ on ‘Faceless Assessments & Faceless Appeals’
- Practicalities & Nuances of Differences between the Conventional Assessments, Appeals and Penalty Proceedings & the New Faceless Assessments, Appeals and Penalty Proceedings.
- [‘Step-by-Step-Manner’ through ‘Real-time’ ‘e-Proceedings’ windows] for demonstrating the actual conduct of ‘Faceless Assessments’, ‘Faceless Appeals’ & ‘Faceless Penalty’ proceedings
- [Practical Guide] to ‘e-Filing of Rectification Applications u/s 154’ & ‘e-Responses to Outstanding Income Tax Demands’.
- [Doctrine of Audi Alteram Partem] Critical Litigative Issues in the Faceless Taxation Regime
- Faceless ITAT: Some Key Issues
- FAQs on the ‘Faceless Taxation Regime’
- International Best Practices in Tax Administration & Indian Tax Administration
The detailed contents of this book are as follows:
- Faceless Assessments
- Faceless Taxation Regime Enters Legislature
- Personal Hearing via Video Conferencing in Faceless Assessments
- Practical Guide to Faceless Assessments
- Practical Case Study on ‘Faceless Assessment’ under section 143: Receipt of Share Capital/Share Premium
- Practical Case Study on ‘Faceless Assessment’ under section 143: Long Term Capital Gain on Penny Stocks
- Practical Case Study on Faceless Assessment under section 143 : Disallowance under section 14A read with rule 8D
- Practical Case Study on ‘Faceless Assessment’ under section 143: Disallowance of pre-commencement business expenditure
- Practical Case Study on Faceless Assessment under section 143 : Taxability of Compensation received under RFCTLARR Act, 2013
- Practical Case Study on Faceless Assessment under section 143 : Revenue Recognition & Expenditure Booking in Real Estate Business
- Practical Case Study on Faceless Assessment under section 147 : Bogus Purchase Entries
- Practical Case Study on Faceless Assessment under section 147 : Seized Diary/Loose Sheets
- Practical Case Study on Faceless Assessment under section 147 : Annual Information Return (AIR)
- Practical Case Study on Faceless Assessment under section 147 : Information from Investigation Wing
- Practical Case Study on Faceless Assessment under section 147 : Cash Deposits during Demonetisation
- Practical Case Study on Faceless Assessment under section 147 : Valuation of Shares u/s 56(2)
- Practical Guide to e-Filing of rectification application u/s 154 & e-response to outstanding Income-tax demand
- Decoding Lesser Known Nuances of ‘Faceless Assessment Scheme, 2019’
- Faceless Assessments : Few Critical Suggestions to Make them Flawless
- International Best Practices & Indian Tax Administration
- FAQs on Faceless Assessments
- Key takeaways of SOPs issued by NeAC for Faceless Assessments
- New Faceless regime as per ‘The Taxation Amendment Act, 2020’
- Faceless Appeals
- Faceless Appeals: One more step towards Digital Tax Administration!!
- Practical Guide to Faceless Appeals
- Key Takeaways from Deliberations of Sr. Income Tax Department Dignitaries on Faceless Assessments & Appeals
- Practical Case Study on Faceless Appeals: Addition in respect of Foreign Bank Account
- Practical Case Study on Faceless Appeals: Information from Another IT Authority
- Practical Case Study on Faceless Appeals: Admission of Additional Evidence
- Practical Case Study on Faceless Appeals: Cash Deposits During Demonetisation
- Practical Case Study on Faceless Appeals: AO’s Treatment of Business Rental Income as Income from House Property
- Practical Case Study on Faceless Appeals: Challenge to Revisionary Order u/s 263
- Practical Case Study on Faceless Appeals: TDS on Transmission & Wheeling Charges
- Practical Case Study on Faceless Appeals: Challenge to Rectification Order u/s 154
- Decoding the New Rules of Penalty Shoot-out: Faceless Penalty Scheme 2021!!
- Final Fact-Finding Appellate Authority ITAT Also Going Faceless w.e.f. 1.4.2021
- Faceless Taxation Regime & Audi Alteram Partem
Details
- Paperback : 360 pages
- Publisher : Taxmann
- Author : Mayank Mohanka
- Edition : 4th Edition April 2021
- Language : English
- ISBN-10 : 9789390831005
- ISBN-13 : 9789390831005
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